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Why you should check mortgage interest rates daily
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Mortgage interest rates could soon be affordable again. That seems to be the loud message after inflation dropped again for the fourth consecutive month and Federal Reserve Chairman Jerome Powell said the “time has come” to cut the federal funds rate. While a reduction there won’t directly reduce what lenders offer borrowers, it will greatly influence it. And that means mortgage rates, which are already down by more than a full percentage point since the end of 2023, could continue falling.
Homebuyers looking to secure the lowest rate possible — and current homeowners looking to refinance — should take note. And they should strongly consider taking some strategic steps now, ahead of what could be a rapidly evolving mortgage interest rate climate. One of the most important involves checking mortgage interest rates daily. Below, we’ll explain why this is such a critical but potentially overlooked move — and why it’s so important to do currently.
Start by seeing what mortgage interest rate you can qualify for here now.
Why you should check mortgage interest rates daily
While it may seem excessive to check mortgage interest rates on a daily basis, it can potentially result in significant savings for borrowers, both now and over the life of their mortgage loan. Here are three reasons why you should monitor mortgage interest rates each day:
They change daily
Mortgage interest rates change each day, except for weekends, thanks to a variety of factors. And while these changes aren’t typically major from day to day, they can portend significant adjustments to come. Even a 25 basis point reduction over a few days, for example, can result in hundreds of dollars saved on a monthly mortgage payment – and thousands of dollars over a 15-year or 30-year mortgage loan. But you won’t be able to take advantage of these drops if you don’t know about them. So check a few lenders that you trust daily to see how rates are evolving.
You can check rates from a variety of mortgage lenders online here today.
Each lender offers different rates
Not every lender will take the same cue from the Federal Reserve. Some may keep their interest rates stagnant while others may drop them even before an official cut to the federal funds rate is issued. Others, meanwhile, may move in tandem with the Fed. Regardless, each lender offers different rates and terms based on their interpretation of the market. So you’ll want to check these daily for opportunities to capitalize on a lower rate offer compared to what’s available with competitor lenders.
Data affects rates
Any number of data points can affect mortgage interest rates. Unemployment data, inflation reports, and, of course, the Federal Reserve can all change what lenders offer home loan borrowers. Even comments from Fed officials, like those issued at the annual Jackson Hole symposium, can influence that day’s daily mortgage rates (and the days after). With so many important monthly calendar developments to keep track of, then, and with the potential for even spoken comments to have an influence, it behooves borrowers to check mortgage interest rates each day.
The bottom line
Today’s mortgage interest rates may not be the same as tomorrow’s or yesterday’s. But the only way to know what’s being offered now — and one of the most effective ways to ultimately secure a low mortgage interest rate — is to check daily. Not only will rates move each day, but so will the offers from each lender, so it’s critical to shop around to gauge what’s available. And with so many data points having the potential to affect rates, particularly in today’s cooling inflationary climate, it’s critical that borrowers and owners who are looking to refinance stay aggressive and monitor the market daily to determine the best time to act. When they do find the rate they want, they should also consider locking it, too.
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Carjacking suspect in Beverly Hills crashes into building near Rodeo Drive holiday lights show
The Beverly Hills Police Department responded to the Rodeo Drive area after an SUV crashed into a building near the city’s holiday light show Thursday night.
Detectives said 22-year-old Pittsburgh resident James Portul allegedly carjacked a woman’s black BMW X3 at around 7:05 p.m. in the 400 block of North Bedford Drive and drove towards the light show. Portul made it a couple of blocks until he lost control of the SUV and crashed into a pillar outside an office building near the Wilshire Boulevard and Camden Avenue intersection.
A witness said he was speeding and skidding around the road before slamming into the corner of the building.
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Before striking the building, Portul allegedly ran over two men, one woman and a boy. The Beverly Hills Fire Department took all of the victims to the hospital in an unknown condition. Police said one of the victims was a vendor.
Portul allegedly ran away from the crash site but officers assigned to a city event quickly detained him in the 200 block of South Beverly Drive. The Rodeo Drive holiday light show was a block away from the crash.
It’s unclear if the victims attended the event.
Portul was arrested on two charges, carjacking and hit-and-run with injury.
An Alaska Airlines flight made an emergency landing at LAX after blowing out a tire during its takeoff at Dulles International Airport near Washington D.C.
The aircraft landed at LAX at about 8:10 p.m. without incident. First responders were standing by on the runway as a precaution.
Out of the 175 passengers and six crew members aboard Flight 309, no one was injured.
“While this incident is a rare occurrence, our flight crews train extensively to safely manage through many scenarios,” the airliner stated.
Alaska stated that the pilot declared the emergency landing as a precaution to ensure the flight had extra support if needed.
The company said it would investigate what caused the Boeing 737-900 to malfunction. The aircraft will not be in service during the investigation.
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German soccer club St. Pauli quits X ahead of snap elections, calls platform a “hate machine”
A German soccer club is leaving X because of the increase in hate speech and disinformation on the social media platform that it claims could undermine the snap elections in the country.
FC St. Pauli announced the decision on Thursday, saying billionaire owner Elon Musk has turned the platform into a “hate machine” since he took over the company in 2022.
“Racism and conspiracy theories are allowed to spread unchecked and even curated,” St. Pauli said in a statement. “Insults and threats are seldom sanctioned and are sold as freedom of speech.”
The club said it had already limited posts on X and increased “political statements in support of diversity and inclusion to make a stand against hate.”
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Named after Hamburg’s St. Pauli district, the club, which plays in the Bundesliga, is known among soccer fans for its left-leaning supporter base. Fan groups often chant anti-racist slogans and promote diversity within the club.
St. Pauli also underlined Musk’s role in last week’s U.S. presidential election, and alleged his platform could affect the outcome of the snap elections in Germany, which are scheduled to take place next February, by “manipulating the public discourse.”
“Musk was a major backer of the Trump campaign and also used X for this purpose,” the club said. “It is to be assumed that X will also promote authoritarian, misanthropic and far-right content during the forthcoming German election campaign.”
St. Pauli said it would no longer share content on X but it will not deactivate the account. The club urged supporters to follow its updates on Bluesky, an alternative social media platform that has observed a surge of new members after President-elect Donald Trump’s election victory last week.
Musk was a key figure in Trump’s third election campaign, donating millions of dollars and promoting content for his message on X. Trump announced this week that he will be part of the cost-cutting Department of Government Efficiency alongside fellow billionaire Vivek Ramaswamy, an entrepreneur who sought the Republican Party’s nomination.
On Nov. 6, the German coalition government collapsed after Chancellor Olaf Scholz dismissed the finance minister, who represented the pro-business Free Democratic Party. The chancellor will seek a vote of confidence at the German Bundestag in December.
St. Pauli aims to migrate its nearly 250,000 followers ahead of February’s snap elections in Germany in which the center-right opposition Christian Democratic Union is expected to make significant gains.
The far-right Alternative for Germany party has also gained popularity. With 76 seats, it is the fifth largest party in the Bundestag. In September’s Thuringian state election, the AfD became the first far-right party in Germany to have won an election since World War II.
Carjacking suspect in Beverly Hills crashes into building near Rodeo Drive holiday lights show
Alaska Airlines flight from Dulles makes emergency landing at LAX
German soccer club St. Pauli quits X ahead of snap elections, calls platform a “hate machine”
Carjacking suspect in Beverly Hills crashes into building near Rodeo Drive holiday lights show
Alaska Airlines flight from Dulles makes emergency landing at LAX